M 9115 Advanced Finance and BudgetingBudgets
ASSIGNMENT OUTLINE
Assignment title:
Budgets
Weighting:
20%
Faculty responsible:
John Ryan
Programme:
Masters Executive Digital
Course name:
M 9115 Advanced Finance and Budgeting
Hand-in date for Turnitin:
N/A
Assignment Overview:
Individual project:
You will use the budgeting example given in the assessment area. Using that budget as an EXAMPLE ONLY, you will need to adjust your
figures, revenue streams and costs to reflect the business you described in your entrepreneurship course.
You will then explain your assumptions while highlighting our understanding of the concepts used in budgeting and variances.
Questions:
I.
Give a brief synopsis of your business plan and use the budget template to project future performance, explaining why you feel the
company will achieve that performance.
II.
Create an optimistic projection and use variance analysis to explain how those changes may arise.
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M 9115 Advanced Finance and Budgeting
Budgets
Learning outcomes:
I.
Implement advanced planning and control techniques in the budgeting process.
II.
Manage the budgeting process.
III.
Apply cost estimation techniques.
IV.
Forecast revenues and expenses under uncertainty.
Organisation and methodology:
This is a written document, carried out individually.
Resources available:
Open book. Use all the resources necessary to understand how to create and manage a budget.
RUBRIC:
108.5
8.49-8
7.9-7
6.9-6
5.9-1
1. Creation of
the budget
Clearly and explicitly
defines the revenues and
costs both individually and
as part of the business
plan, demonstrating a
logical and reasonable
approach to projections.
Every number should be
explained referring to the
market expectations you
analyzed in your
entrepreneurship course.
Clearly and explicitly
defines the revenues and
costs both individually
and as part of the
business plan,
demonstrating a logical
and reasonable approach
to projections. The
concept is adequately
explained, referring to the
market expectations you
analyzed in your
entrepreneurship course.
Defines the revenues and
costs as part of the
business plan,
demonstrating a logical
and reasonable approach
to projections. The
numbers should be
adequately explained to
the market expectations
you analyzed in your
entrepreneurship course.
The revenues and costs
are adequately explained
as part of the business
plan, demonstrating a
reasonable approach to
projections. The market is
adequately explained.
The numbers are not
adequately or reasonably
explained as part of a
reasonable business
performance consistent to the
market as explained in the
business synopsis.
2. Explanation
of the growth
or fall in
performance
between years
1 and 2
Projecting the increase
and or decrease in all
incomes and costs using
metrics based on the
market, justified using
sources, referenced.
Reasonable and logical
adjustments to every number
in the budget using
knowledge of the market
from research, fully
referenced.
A very general explanation
to changes in all of the
numbers with limited
outside referencing or
reasonable market
understanding.
All numbers adjusted in a
general way with
adequate and reasonable
explanation to justify the
adjustments.
Only some numbers changed
and any changes are not
adequately explained.
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M 9115 Advanced Finance and Budgeting
3. Using
variance
analysis to
justify the
differences
between the
initial and
optimistic
budget.
Budgets
Well-structured, detailed
and thorough analysis and
projections are explained
as a further step from year
to year projections. All
assumptions should be
explained in terms of
changes in variances as
opposed to solely
numerical explanations.
Well-structured, analysis and
projections are explained as
a further step from year to
year projections. All
assumptions should be
explained in terms of
changes in variances as
opposed to solely numerical
explanations.
Adequate and reasonable
analysis and projections
are explained as a further
step from year to year
projections. All
assumptions should be
explained in terms of
changes in variances as
opposed to solely
numerical explanations.
All projections are
explained as a further step
from year to year
projections. All
assumptions should be
explained in terms of
changes in variances as
opposed to solely
numerical explanations.
The numbers are not
represented as variance and /
or the changes are adequately
explained.
10% of each section is based on the level of English demonstrated within the report.
Common skills: assessed (bold) or developed (italics):
MANAGING AND DEVELOPING
SELF
1.Manages own
role and
responsibilities
2. Manages own
time in achieving
objectives.
WORKING WITH AND RELATING
TO OTHERS
6.Treats others’
values, beliefs
and opinions with
respect
COMMUNICATING
9.Receives and
responds to a
variety of
information
MANAGING TASKS AND SOLVING
PROBLEMS
13.Uses
information
sources
BECOMING NUMERATE AND
USING TECHNOLOGY
16.Applies
numerical skills
and techniques
7.Relates to and
interacts
objectively with
individuals and
groups
10.Presents
information in a
variety of visual
forms
14. Deals with a
combination of
routine and nonroutine tasks
17.Uses a range
of technological
equipment and
systems
3.Undertakes personal
and career
development
4. Transfers skills
gained to new and
changing situations
and contexts.
5.Uses a
range of
thought
processes
8.Works effectively as
a member of a team
11.Communicates in
writing
12.Participates in oral
and non-verbal
communication
15.Identifies and
solves routine and
non-routine
problems
Plagiarism:
Plagiarism is the act of presenting another’s ideas or words as one’s own. Cheating includes, but is not limited to, the intentional falsification or fabrication of any
academic activity, unauthorized copying of another person’s work, or aiding and abetting any such acts.
Particular care must be taken when presenting information that has been obtained from an internet site. Should this information not be correctly referenced, then
you are guilty of plagiarism and will be penalised accordingly.
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M 9115 Advanced Finance and Budgeting
Budgets
With respect to projects/assignments, faculty reserves the right to randomly call upon any student and ask them to defend their work orally.
Any assignment/exam which is found to contain plagiarism will automatically be awarded a grade of 0, and an e-mail will be sent to the student or the student’s
parents/tutors/sponsors. Depending on the circumstances, additional penalties could be imposed (see LRM Academic Regulations, Section 11).
Statement of authorship
Following the title page of your assignment there should be a page on which you sign a statement that the work included in the assignment is your own work
except where appropriately referenced. The following statement should be used:
Statement of authorship
I certify that this assignment is my own work and contains no material which has been submitted as part of an assignment in any institute, college or university. Moreover, to the best of my
knowledge and belief, it contains no material previously published or written by another person, except where due reference is made in the text of the assignment.
Signed …………………………………………………………………….
Name ……………………………………………………………………..
Student number. ……………………………………………………
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